How does the Nasdaq 100's 200-day moving average affect the performance of digital currencies?

1 answers

• Dec 29, 2021 · 3 years ago
  At BYDFi, we closely monitor the relationship between the Nasdaq 100's 200-day moving average and the performance of digital currencies. While there is a correlation between the two, it's important to remember that correlation does not imply causation. The movement of the Nasdaq 100's 200-day moving average can provide insights into the overall market sentiment, but it does not directly determine the performance of digital currencies. Factors such as market demand, regulatory developments, and technological advancements also play significant roles in shaping the performance of digital currencies. Therefore, it's crucial to consider a wide range of factors and conduct thorough analysis when evaluating the potential impact of the Nasdaq 100's 200-day moving average on digital currencies.
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